Bank of New York Mellon Corp Raises Stake in FuboTV Inc. (NYSE:FUBO)

Bank of New York Mellon Corp raised its stake in shares of FuboTV Inc. (NYSE:FUBO) by 7.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 909,345 shares of the company’s stock after buying an additional 61,995 shares during the quarter. Bank of New York Mellon Corp owned about 0.27% of FuboTV worth $1,146,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. EWG Elevate Inc. boosted its position in shares of FuboTV by 50.0% in the fourth quarter. EWG Elevate Inc. now owns 30,000 shares of the company’s stock valued at $38,000 after acquiring an additional 10,000 shares during the period. Integrity Wealth Solutions LLC purchased a new stake in FuboTV in the 4th quarter worth approximately $47,000. FMR LLC boosted its holdings in FuboTV by 84.5% in the 3rd quarter. FMR LLC now owns 101,914 shares of the company’s stock valued at $145,000 after purchasing an additional 46,670 shares during the period. Intech Investment Management LLC purchased a new position in shares of FuboTV during the 3rd quarter valued at $152,000. Finally, USAdvisors Wealth Management LLC grew its position in shares of FuboTV by 156.0% during the 4th quarter. USAdvisors Wealth Management LLC now owns 128,000 shares of the company’s stock valued at $161,000 after purchasing an additional 78,000 shares in the last quarter. 39.31% of the stock is currently owned by institutional investors.

FuboTV Stock Performance

Shares of NYSE FUBO opened at $3.27 on Tuesday. The stock’s 50-day moving average is $3.64 and its 200 day moving average is $2.43. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -4.87 and a beta of 2.02. FuboTV Inc. has a 1-year low of $1.10 and a 1-year high of $6.45. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50.

Insider Buying and Selling at FuboTV

In other news, COO Alberto Horihuela sold 403,847 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $6.03, for a total value of $2,435,197.41. Following the completion of the sale, the chief operating officer now owns 1,449,751 shares of the company’s stock, valued at approximately $8,741,998.53. The trade was a 21.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Gandler sold 1,425,888 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $5.01, for a total value of $7,143,698.88. Following the transaction, the chief executive officer now owns 346,817 shares in the company, valued at approximately $1,737,553.17. The trade was a 80.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,861,426 shares of company stock worth $9,721,411 over the last ninety days. Insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FUBO shares. Needham & Company LLC increased their price objective on FuboTV from $2.00 to $3.50 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Huber Research raised FuboTV to a “strong-buy” rating in a report on Friday, January 31st. Wedbush reiterated an “outperform” rating and set a $6.40 price target on shares of FuboTV in a research report on Friday, February 28th. UBS Group set a $3.50 price objective on shares of FuboTV in a research report on Monday, March 3rd. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $4.75 target price (up from $2.00) on shares of FuboTV in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.21.

FuboTV Profile

fuboTV, Inc engages in providing subscription to sports, news, and entertainment content. It offers its services through streaming devices and on television, mobile phones, tablets, and computers. The company was founded by David Gandler, Alberto Horihuela Suarez, and Sung Ho Choi on February 20, 2009 and is headquartered in New York, NY.